Standard 6:Manage Risks and Preserve Wealth – Students will develop skills to balance financial planning against financial risk.
Grades 3-5
Grades 6-8
Grades 9-12
6.5.ASee grade bands 6-8 and 9-12
6.8.AExamine strategies that protect income and wealth. 6.8.A.1Identify circumstances that impact income and wealth. 6.8.A.2Describe forms of financial risk and risk tolerance. 6.8.A.3Recognize forms of protection against financial loss. (Risk Management G.1)
6.12.AEvaluate the strategies that protect income and wealth. 6.12.A.1Explain circumstances that impact income and wealth. 6.12.A.2Analyze forms of financial risk with varying degrees of risk tolerance. 6.12.A.3Strategize methods to minimize financial loss.
6.5.BExplain the need for and value of various types of insurance within the life cycle. 6.5.B.1Explain reasons for insurance. (Risk Management G.2)
6.8.BExamine the need for and value of various types of insurance (such as health, property, life, disability, and liability) within the life cycle. 6.8.B.1Describe the need for and value of different types of insurance. 6.8.B.2Identify factors to consider when determining the amount of protection needed. 6.8.B.3Identify strategies to lower insurance costs. 6.8.B.4Describe ways for protecting current and future personal assets against financial loss.
6.12.BJustify the need for and value of various types of insurance (such as health, property, life, disability, and liability) within the life cycle. 6.12.B.1Investigate and apply different types of insurance coverage to selected situations. 6.12.B.2Review and apply criteria to choose insurance coverage for selected situations. 6.12.B.3Compare insurance rates, premiums, and deductibles to minimize costs in selected situations. 6.12.B.4Create an individual or family insurance plan for selected situations.
6.5.CInvestigate the effects of business practices, including sales techniques. 6.5.C.1Recognize techniques and effects of advertising. 6.5.C.2Identify business practices that affect the consumer. 6.5.C.3Identify the characteristics of an informed consumer. (Critical Consumer E.2)
6.8.CInvestigate the purposes, strategies, and effects of various business practices, including sales techniques. 6.8.C.1 Compare and contrast advertising for opinion versus fact. 6.8.C.2Examine business practices that affect the consumer. 6.8.C.3Explain the characteristics of an informed consumer.
6.12.C Evaluate the purposes, strategies, and effects of various business practices, including sales techniques. 6.12.C.1Analyze the influence of advertising and the media on decision making and spending. 6.12.C.2Explain the consequences of business practices to individuals, families, and society. 6.12.C.3Analyze the characteristics of an informed consumer.
6.5.DExplain sources of consumer protection and assistance, including public institutions and private organizations (professionals, publications, and internet). 6.5.D.1 Describe and identify types of fraud. 6.5.D.2Describe identity theft and how it occurs. 6.5.D.3 Identify resources that help protect consumers against fraud. 6.5.D.4 Describe reasons to keep certain types of information secure and private. 6.5.D.5 Identify rights of consumers under consumer protection laws. (Critical Consumer E.5)
6.8.DDifferentiate sources of consumer protection and assistance, including public institutions and private organizations (professionals, publications, and internet). 6.8.D.1 Identify situations that put consumers in financial risk, such sharing account information and co-signing on loans. 6.8.D.2Examine how consumers fall victim to fraud. 6.8.D.3 Know what agencies and organizations help protect consumers against fraud. 6.8.D.4 Explain the need to keep certain types of information secure and private. 6.8.D.5 Distinguish between the rights and responsibilities of buyers and sellers under consumer protection laws. 6.8.D.6 List actions to take to dispute a claim.
6.12.DCritique sources of consumer protection and assistance including public institutions and private organizations (professionals, publications, and internet). 6.12.D.1Assess situations that put consumers in financial risk, such sharing account information and co-signing on loans. 6.12.D.2Evaluate how fraudulent activities affect consumers and influence the creation of laws. 6.12.D.3Justify which agencies and organizations provide consumers with the best resources to help protect against fraud. 6.12.D.4 Justify why certain types of information should be secure and private. 6.12.D.5 Explain the rights and responsibilities of buyers and sellers under consumer protection laws such as the “Credit Card Bill of Rights”. 6.12.D.6 Apply consumer protection laws to dispute a claim.
6.8.A.1 Identify circumstances that impact income and wealth.
6.8.A.2 Describe forms of financial risk and risk tolerance.
6.8.A.3 Recognize forms of protection against financial loss.
(Risk Management G.1)
6.12.A.1 Explain circumstances that impact income and wealth.
6.12.A.2 Analyze forms of financial risk with varying degrees of risk tolerance.
6.12.A.3 Strategize methods to minimize financial loss.
6.5.B.1 Explain reasons for insurance.
(Risk Management G.2)
6.8.B.1 Describe the need for and value of different types of insurance.
6.8.B.2 Identify factors to consider when determining the amount of protection needed.
6.8.B.3 Identify strategies to lower insurance costs.
6.8.B.4 Describe ways for protecting current and future personal assets against financial loss.
6.12.B.1 Investigate and apply different types of insurance coverage to selected situations.
6.12.B.2 Review and apply criteria to choose insurance coverage for selected situations.
6.12.B.3 Compare insurance rates, premiums, and deductibles to minimize costs in selected situations.
6.12.B.4 Create an individual or family insurance plan for selected situations.
6.5.C.1 Recognize techniques and effects of advertising.
6.5.C.2 Identify business practices that affect the consumer.
6.5.C.3 Identify the characteristics of an informed consumer.
(Critical Consumer E.2)
6.8.C.1 Compare and contrast advertising for opinion versus fact.
6.8.C.2 Examine business practices that affect the consumer.
6.8.C.3 Explain the characteristics of an informed consumer.
6.12.C.1 Analyze the influence of advertising and the media on decision making and spending.
6.12.C.2 Explain the consequences of business practices to individuals, families, and society.
6.12.C.3 Analyze the characteristics of an informed consumer.
6.5.D.1 Describe and identify types of fraud.
6.5.D.2 Describe identity theft and how it occurs.
6.5.D.3 Identify resources that help protect consumers against fraud.
6.5.D.4 Describe reasons to keep certain types of information secure and private.
6.5.D.5 Identify rights of consumers under consumer protection laws.
(Critical Consumer E.5)
6.8.D.1 Identify situations that put consumers in financial risk, such sharing account information and co-signing on loans.
6.8.D.2 Examine how consumers fall victim to fraud.
6.8.D.3 Know what agencies and organizations help protect consumers against fraud.
6.8.D.4 Explain the need to keep certain types of information secure and private.
6.8.D.5 Distinguish between the rights and responsibilities of buyers and sellers under consumer protection laws.
6.8.D.6 List actions to take to dispute a claim.
6.12.D.1 Assess situations that put consumers in financial risk, such sharing account information and co-signing on loans.
6.12.D.2 Evaluate how fraudulent activities affect consumers and influence the creation of laws.
6.12.D.3 Justify which agencies and organizations provide consumers with the best resources to help protect against fraud.
6.12.D.4 Justify why certain types of information should be secure and private.
6.12.D.5 Explain the rights and responsibilities of buyers and sellers under consumer protection laws such as the “Credit Card Bill of Rights”.
6.12.D.6 Apply consumer protection laws to dispute a claim.